Our future obligations? What about TNJ’s obligations to build and operate a hotel and conference center using the $1.8M OF LAND WE DONATED TO THEM IN 2019? This should be a cut & dry case where both parties walk away with lessons learned, no money exchanged. Instead, we are paying them because they failed at business.
The reason we are paying them off is to get out of the contract early, which would make sense if we had some immediate development opportunities in the works, but we don’t. But if we did, there’s plenty of local entrepreneurs that would be happy to not only buy the land at fair market value, but have honest commitment and sound business plans for developing our local economy.
Show up tonight @ 5:45pm @ Council Chambers 1000 Central Avenue and tell them that if TNJ wants our money, they should earn it by doing their job. Our economic development leadership will also be there if you want to ask them more questions about it.